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14-362-127. Sale of assets.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-362-127. Sale of assets.
(a) In the event the board shall so determine, any authority may sell all or any part of its properties and assets and distribute the proceeds among the participating municipalities, counties, and the state in the proportion each unit contributed to the authority's funds or otherwise in the manner set forth in the agreement establishing the authority, provided no authority in which the state is a participant shall sell all or substantially all of its properties or assets without the consent of the Governor.
(b) No sale of properties or assets and no distribution of proceeds of such sale shall be done in a manner which violates United States law or the terms of any deed, grant agreement, or other agreement with the United States.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-362-127
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:14-362-127
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7b716fb72418055dfb72eadca9c272d05298ee3ccf853d2cef3e5b53163c7c36
Source location: content.xml paragraph 58993
Stored source content
14-362-127. Sale of assets.
(a) In the event the board shall so determine, any authority may sell all or any part of its properties and assets and distribute the proceeds among the participating municipalities, counties, and the state in the proportion each unit contributed to the authority's funds or otherwise in the manner set forth in the agreement establishing the authority, provided no authority in which the state is a participant shall sell all or substantially all of its properties or assets without the consent of the Governor.
(b) No sale of properties or assets and no distribution of proceeds of such sale shall be done in a manner which violates United States law or the terms of any deed, grant agreement, or other agreement with the United States.
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